FOX (NASDAQ:FOX) Reaches New 1-Year High – Time to Buy?

Fox Co. (NASDAQ:FOX)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.32 and last traded at $49.05, with a volume of 489013 shares changing hands. The stock had previously closed at $48.60.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Moffett Nathanson lowered FOX from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays upgraded FOX to a “hold” rating in a research report on Wednesday, October 9th.

FOX Stock Up 1.2 %

The company has a 50-day moving average price of $45.83 and a 200 day moving average price of $40.90. The firm has a market capitalization of $22.47 billion, a PE ratio of 12.03, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.10 by $0.35. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.37 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. During the same period in the previous year, the business earned $1.09 earnings per share. Analysts forecast that Fox Co. will post 3.91 earnings per share for the current year.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,053,505 shares of company stock worth $47,705,970. Corporate insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

Several large investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB bought a new position in shares of FOX during the fourth quarter valued at approximately $1,070,000. Ieq Capital LLC bought a new position in shares of FOX during the fourth quarter valued at approximately $211,000. CIBC Asset Management Inc grew its stake in shares of FOX by 4.6% during the fourth quarter. CIBC Asset Management Inc now owns 23,415 shares of the company’s stock valued at $1,071,000 after buying an additional 1,034 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of FOX by 7.6% during the fourth quarter. Principal Financial Group Inc. now owns 182,205 shares of the company’s stock valued at $8,334,000 after buying an additional 12,864 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in shares of FOX by 51.5% during the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after buying an additional 362 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.